More difficult vehicle trading environment foreseen
New vehicle sales in South Africa decreased by 2.9% in October, to 56 927 units, compared with the same month last year.
Vehicle exports were down 15.1%, to 21 125 vehicles, as manufacturers struggled to win back production lost during a seven-week strike in the local automotive industry.
During October, 40 102 new passenger cars left showroom floors – a 4.4% drop compared with the same month last year.
Sales of new light commercial vehicles, bakkies and minibuses, at 14 125 units, were up 0.2%.
Sales of medium trucks and big vans improved 10.5% to 996 units, with heavy trucks, at 1 704 units, up 2.2%.
Commenting on the statistics, compiled by RGT Smart and issued by the Department of Trade and Industry, the National Association of Automobile Manufacturers of South Africa (Naamsa) says lower economic growth and above-inflation new vehicle price increases will contribute to a “more difficult trading environment, and further moderation in sales growth momentum” for the remainder of the year.
However, “despite a less promising outlook for the automotive sector, the year as a whole would still represent the second or third best year on record in terms of domestic sales”.
Also, as a result of the recent labour action, Naamsa expects 2013 vehicle exports, originally forecast to be 336 000 units, to end the year at around 290 000 units.
“The momentum of vehicle exports should, however, improve in 2014 as export programmes ramped up again.”
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